Financial services
Standard Chartered's attractive presence in emerging Asia, particularly in countries with strong GDP growth, is poised to drive significant profit gains in the coming years. Despite a 31% increase in net profit to $14.52 billion, the bank's shares are unlikely to see a substantial boost,
Financial services
PS Business Parks, Inc., a leading provider of commercial properties, will participate in the 2006 Citigroup REIT CEO Conference, where President and Chief Executive Officer Joseph D. Russell, Jr. will deliver a presentation. The conference will take place on March 6, 2006, at The Breakers in Palm Beach, Florida. The
Health care industry
Alkermes, Inc. has scheduled a corporate presentation that will be webcast live by Citigroup on Monday, February 27, 2006, at 11:30 a.m. EST. The webcast will originate from the Mayflower Hotel in Washington, D.C. and can be accessed through the investor relations section of Alkermes' website,
Health care industry
Kos Pharmaceuticals, a leading specialty pharmaceutical company, will present at the Citigroup 2006 Healthcare Conference, held in Washington DC from February 27 to March 1, 2006. Adrian Adams, President and CEO, will deliver the company's presentation at 2:30 pm ET on Monday, February 27, 2006. Interested parties
Banks (Finance)
Major banks, including industry giants, have expressed ambivalence about selling gift cards carrying brands like Visa, MasterCard, and American Express. Although some banks have seen growth in sales, particularly during the holiday season, concerns about profitability and varying regulations have led others to reconsider direct sales to consumers. Key Bank&
Banks (Finance)
The Scottish Executive has approved a £1 million grant for HSBC, the largest bank in the UK, to create up to 257 fund management jobs in Edinburgh. The Regional Selective Assistance (RSA) scheme, which requires companies to demonstrate financial need, has sparked criticism from opposition MSPs who argue that HSBC&
Banking industry
Deutsche Bank and Credit Suisse are poised to launch a $2 billion debtor-in-possession (DIP) financing package for energy company Calpine, pending a final decision from the bankruptcy judge. This massive financing package consists of a $1 billion term loan and a $1 billion first-lien revolver, with separate pricing for each
Banking industry
Cerberus Capital Management, a prominent private investment firm, has taken decisive action against Mainichi Shimbun, a Japanese daily newspaper, over a defamatory article published in January 2006. The article, which falsely accused Cerberus of consorting with organized crime, has caused significant damage to the company's reputation both in
Banking industry
As China prepares to grant full access to its banking market, a fierce battle is unfolding between rival investors vying for control of Guangdong Development Bank (GDB). A Citigroup-led consortium, which submitted the highest bid of 24.1 billion yuan, is facing opposition from Ping An Insurance and a group
Banks (Finance)
Warren Buffett, the chairman and chief executive of Berkshire Hathaway, lost almost $1 billion betting on a decline in the dollar last year against currencies like the pound. Analysts at Deutsche Bank, UBS, and Citigroup predicted the dollar would weaken to a new low against the euro, but instead, it
Banks (Finance)
US banking giant Citigroup is preparing to make a significant move into the Chinese financial market, submitting a bid for an 85% stake in the Guangdong Development Bank. The deal, which would value the stake at £1.76 billion, would give Citigroup a major foothold in the Chinese market and
Banking industry
In 2005, Citigroup, Deutsche Bank, and UBS, three of the world's largest currency traders, underestimated the dollar's rally, forecasting a decline in value as the US struggled with a large current account deficit. However, this prediction proved incorrect, and the dollar rose 14% against the euro,
